Former MRI International Head is Found Guilty in $1.5B Ponzi Scam Edwin Fujinaga, the ex-CEO of medical billings collections company MRI International, has been convicted of multiple counts of wire fraud, mail fraud, and money laundering. He is scheduled to be sentenced earlier this year. According to the release issued by the US Attorney’s Office…

The SEC has filed fraud charges against hedge fund adviser Gregory Lemelson and his Massachusetts based investment advisory firm Lemelson Capital Management LLC. The regulator is accusing them of illegally profiting over $1.3M from an alleged short-and-distort scheme that involved Ligand Pharmaceuticals. According to the hedge fund fraud allegations, Lemelson and his investment advisory firm…

In New York, the founders of Centra Tech are now facing securities fraud, wire fraud, and conspiracy charges related to an alleged cryptocurrency fraud. Robert Farkas, Sohrab Sharma, and Raymond Trapani are accused of fraudulently raising $32M from investors during an initial coin offering (ICO). Prosecutors claim that the men misled investors into thinking that…

According to the Texas State Securities Board’s Enforcement Division, a four-week probe of investment offerings connected to virtual currencies has uncovered “widespread fraud.” The cryptocurrency fraud investigation took a look at investment offerings targeting investors in the state and which appeared to employ fraudulent and illegal solicitation tactics. Of the 32 investigations conducted beginning on…

Longfin’s Illegal Trading Was an Easy Catch for the SEC The US Securities and Exchange Commission has gotten a court order to freeze $27M in trading proceeds because of allegations that restricted shares of Longfin Corp. (NASDAQ:LFIN) stock may have been illegally sold and distributed. The regulator’s complaint, unsealed in federal court early this month,…

The US Securities and Exchange Commission has placed a temporary halt on trading in The Crypto Company (CRCQ) stock until January 3, 2018. The company’s stock has just seen a 2,700 percent rise in price. It recently agreed to purchase a German cryptocurrency data platform called Coin Tracking E. K. Citing concerns regarding “accuracy and…

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